Credit is a very useful financial tool, it allows users to acquire high-value goods such as a home, automobiles, and even invest in a business, or solve an emergency, however, despite being an attractive instrument, a large part of the population does not have a formal credit.
According to data from the National Survey of Financial Inclusion (ENIF), prepared by the National Banking and Securities Commission in collaboration with the National Institute of Statistics and Geography and Information Technology, 53% of the adult population in Mexico has never had formal financing. The reason why they do not have a loan is because they do not meet the requirements (26 percent).
Young people between 18 and 29 years old are the group that receives the least credit due to not meeting the necessary requirements; The ENIF details that “the younger population more frequently reports the lack of credit history as a rejection factor.”
It is advisable to start building a credit history from an early age, currently big data allows technological financial companies known as fintech, to offer credits for those who do not have a history, in addition there are credit programs with guarantees, and even credits between relatives with the administration of financial institutions such as Prestadero.
The paradox is that acquiring a loan is the first step to start a credit history, having a healthy credit that manages to increase the credit score is the real challenge, the ENIF revealed that 14% of the population that had already had a loan left to have it; Among the reasons, users detail having had a bad experience.
In this regard, Gerardo Obregón, general director of Prestadero, recommends that those who acquire their first credit use it as a tool to build credit history and that in the medium term users access credit schemes with better conditions such as interest rates and Total Current Cost ( CAT) lower.
“When it comes to your first loan, you have to be very abused because they are usually very expensive loans, precisely because there is no history; You have to know that when you are young you are creating a tool to generate a good history, and if you take out this loan, it is because you know that you will be able to pay for it”, he commented.
Credit card
In the case of the credit card as the way to access better credits in the future, the director of Prestadero recommends using it as a payment method and not as financing. For example, if the user already has the payment of services included in his monthly expenses, he can use the credit card to make the payment and then use the money to pay the card. With this simple change, the borrower increases his score in the credit bureau.
On the other hand, Reynaldo Ruiz, director of credits for consumers at Mercado Pago, advises those who acquire their first credit and need to finance the purchase of items, analyze their ability to pay before making the purchase, which should not exceed 30%. of your monthly income
Another alternative for creating a credit history is contracting services such as telephone, cable and Internet, since the companies that offer these services are required to report to the Credit Bureau.
Thus, when contracting and paying for these services, a rating is also generated in the Bureau.
Finally, Gerardo Obregón commented that the most important thing is that the borrowers have a strict control of their finances and the payment of the credit to avoid legal problems.
He explained that some credit grantors can sue and seize accounts, so it is important to make payments in a timely manner and thus maintain a healthy history.
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